Chevron Co. (NYSE:CVX) Shares Sold by TIAA Trust National Association

TIAA Trust National Association cut its holdings in shares of Chevron Co. (NYSE:CVX) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 198,438 shares of the oil and gas company’s stock after selling 3,655 shares during the period. TIAA Trust National Association’s holdings in Chevron were worth $28,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Life Planning Partners Inc purchased a new position in shares of Chevron during the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron in the 4th quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new stake in Chevron in the 3rd quarter worth $29,000. Fairway Wealth LLC raised its position in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 88 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the third quarter valued at about $31,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CVX. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 0.6 %

NYSE:CVX opened at $165.93 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market cap of $292.14 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The stock has a fifty day moving average price of $156.67 and a 200 day moving average price of $153.01. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.82.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company earned $3.45 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.